Hyzon Motors, SPAC Merger Dispute Ends with $8.8 Million Deal

The Delaware Chancery Court approved an $8.8 million settlement to end a class action alleging the leaders and backers of a blank-check company that merged with Hyzon Motors Inc. exaggerated the hydrogen-fuel-cell vehicle maker’s customer base and financial health.

Vice Chancellor Paul A. Fioravanti Jr.'s order, issued late Tuesday, didn’t address objections raised in a filing to the court by the lead plaintiff in a related federal class action.

Fioravanti in 2023 allowed an investor to advance claims over the merger with a special purpose acquisition company, or SPAC, that took Hyzon public because available information about Hyzon’s customers may ...